The global veterinary X-ray market is projected to reach USD 872 million by 2023 from USD 640 million in 2018, at a CAGR of 6.4% from 2018 to 2023.

Rising animal health expenditure and growing demand for pet insurance, increasing number of veterinary practitioners in developed regions, and growth in the companion animals market are the primary drivers for the veterinary X-ray market during the forecast period. However, the increasing cost of pet care and the high cost of veterinary X-ray equipment and procedures are expected to restrain the growth of this market to a certain extent.

Direct Radiography Systems to Register the Highest Growth During the Forecast Period

On the basis of technology, the veterinary X-ray market is segmented into direct, computed, and film-based radiography systems. The direct radiography systems segment is expected to register the highest CAGR during the forecast period. Growth in this segment is mainly attributed to the rising demand for higher quality images with quick turnaround time and the increasing focus towards radiological dose efficiency.

Digital X-ray Systems to Witness the Highest CAGR During 2018-2023

Based on type, the veterinary X-ray market is segmented into digital X-ray systems and analog X-ray systems. The digital X-ray systems segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the number of benefits offered by digital X-ray systems over analog systems, including cost savings, improved efficiency and productivity, and patient-centric, value-based imaging. Reduced scan times and improved image quality are also key factors driving the adoption of digital radiography systems.

APAC to be the Fastest-growing Region in the Veterinary X-ray Market During the Forecast Period

The Asia Pacific market is projected to register the highest growth rate during the forecast period. Factors such as growing livestock population, increasing pet adoption, rising awareness about animal health, and growing per capita animal health expenditure are some of the key factors driving the growth of the veterinary X-ray market in the Asia Pacific region.